Advanced Micro Devices has been defying the odds for years now. So it isn’t a great stretch to imagine the chip maker doing so again. 

The company more commonly known as AMD long competed primarily against Intel for a small slice of the personal computer and server markets. AMD’s fortunes began to brighten about five years ago thanks to smart design decisions, plus technological stumbles by its much larger rival. AMD now generates more than four times the annual revenue that it did in 2017; Intel’s business has shrunk by 16% in that same time.